Rs 1.56-bn Apollo Micro Systems' IPO subscribed 250 times on last day
The institutional portion of the IPO was subscribed 104 times
 "Rs 1.56-bn Apollo Micro Systems' IPO subscribed 250 times on last day")
premium
The Rs 1.56-billion initial public offering (IPO) of Apollo Micro Systems garnered a whopping 250 times subscription, generating demand worth Rs 162 billion. The institutional portion of the IPO was subscribed 104 times, high net worth individual (HNI) was subscribed nearly 976 times and the retail quota saw close to 40 times more demand than shares on offer. The IPO garnered over 1.2 million applications.
Apollo Micro is a manufacturer of electronic equipment for the defence sector. The price band for the IPO was Rs 270 to Rs 275 per share. At the top end of the price band, Apollo Micro was valued at 17 times its FY20 estimated earnings. Through the IPO, the company will raise Rs 156 crore which will be used towards its working capital requirement.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%